Thursday, May 10, 2007

Microsoft Acquires Stake in CareerBuilder

Software stalwart Microsoft Corp. revealed Wednesday that it has purchased a minority interest in CareerBuilder.com, a leading online job listings and resume service. Financial terms of the transaction were not disclosed. In a related move, Microsoft extended the strategic alliance between its popular Web portal, MSN, and CareerBuilder. Under that agreement, CareerBuilder will be the exclusive content provider for MSN's Careers channel in the United States through 2013. Microsoft said CareerBuilder will pay up to $443 million over the course of seven years for these rights. CareerBuilder is owned by Gannett Co. Inc., the Tribune Co., and The McClatchy Co.